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Eagle Bulk's Ch. 11 Plan Cutting $975M Debt Sails Through

Eagle Bulk Shipping Inc. secured court approval Thursday of a prepackaged Chapter 11 plan that will put lenders in control of the company and erase $975 million in debt from its balance sheet.

  • Fed Tightens Reins On Santander Unit Over $52M Dividend

    The Federal Reserve said Thursday that it had taken enforcement action against Santander Holdings USA Inc., requiring the company to exercise stricter controls on capital distributions after a subsidiary issued an unauthorized $52 million dividend.

  • Apple Won't Unlock iOS 8 Devices For Government Queries

    Apple Inc. said Wednesday that the encryption and passcode settings on its new iOS 8 operating system will prevent it from unlocking customers’ iPhones in response to court orders, even if law enforcement presents it with search warrants. 

  • Renewed DOJ Fraud Focus Should Worry Bank Execs

    U.S. Attorney General Eric Holder’s proposal Wednesday to raise the cap on rewards for certain financial industry whistleblowers and make a renewed effort to pursue criminal financial fraud cases should give bank executives pause as they consider the prospect of prosecutors knocking on their doors, attorneys say.

  • Auxilium Takes Poison Pill After $2.2B Endo Offer

    Auxilium Pharmaceuticals Inc. has swallowed a poison pill the day after receiving a $2.2 billion unsolicited takeover offer from pharmaceutical company Endo International PLC, rebuffing the deal on Wednesday as it pursues a merger with Canadian eye-drug maker QLT Inc.

  • Family Dollar Snubs 'Meaningless' $9.1B Dollar General Bid

    Family Dollar Stores Inc. on Wednesday spurned a sweetened $9.1 billion tender offer from rival Dollar General Corp., telling its shareholders the deal proposal was “meaningless” because it wouldn't clear an antitrust review.